The assessee withdrawn the application of registration under section 12AB of the Act for pursuing the Registration under Rajasthan Public Trust Act. The assessee came to know that State Registration is not required if the trust is registered under the Companies Act. The assessee moved an application for restoration which was rejected y the CIT(E). On appeal the Tribunal also affirmed the order of the CIT(E) on the ground that the Revenue has not taken any advantages of the ignorance of the assessee. Appeal of assessee is dismissed.
Dharohar Charitable Foundation v. CIT(E) (2024) 163 taxmann.com 173 / 228 TTJ 13(UO) (Jodhpur) (Trib)
S. 12AB : Procedure for fresh registration-Company registered under Section 8 of the Companies Act, 2013-Withdrawn application under wrong advice-CIT(E) is justified in rejecting request for restoration of application under section 12AB of the Act [S.12A, 12AB, Companies Act, 2013, S. 8]